The maximum price of 95 octane gasoline at self-service pumps in Israel will rise by NIS 0.16 per liter (2.74%), from NIS 5.85 to NIS 6.01 on Tuesday at midnight, June 1, the Ministry of National Infrastructure, Energy and Water Resources reports. There will be no change to the NIS 0.19 charge for receiving full-service at pumps from gas station attendants.
This rise follows a NIS 0.01 increase at the beginning of May and an NIS 0.30 increase at the beginning of April, after a long period of sharp falls in gasoline prices as oil prices tumbled on world markets. The gasoline price rise on Tuesday night has been caused by a sharp rise in oil prices, which have risen 9% over the past month and 25% over the past three months.
In Eilat, where there is no VAT, the maximum price of 95 octane gasoline at self-service pumps in Israel will rise by NIS 0.14 per liter, to NIS 5.14 on Tuesday at midnight. There will be no change to the NIS 0.16 charge for receiving full-service at pumps from gas station attendants. The price of fuel in Israel is set according to the price in the last four days of the month at Lavera in France.
Published by Globes [online], Israel business news - www.globes-online.com - on May 29, 2016
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